Serbia: GazpromNeft NIS plans one billion euro investments by 2020

2. February 2017. / News Serbia Energy

NIS’ largest investment projects in Serbia are combined heat and power plant (CHPP) in Pancevo and Plandiste wind farm. According to Deputy CEO Anton Fyodorov, the construction of 140 MW CHPP Pancevo should start in 2017, it would cost some 146 million euros and will be completed in two years. It will produce electricity for the needs of NIS’ refinery in Pancevo, while surplus electricity will be sold in Serbian electricity market. The thermal energy supplied by the plant will be used for the heating of the city of Pancevo.

During his meeting with Serbian President Tomislav Nikolic, CEO of oil company NIS Kirill Kravchenko announced new investments of NIS, which should amount to one billion euros in the next three years.

During their discussion, Kravchenko informed President Nikolic of NIS’ operations in the previous year, stressing that despite low crude oil prices in the world market in 2016, NIS managed to achieve net profit on the 2015 level. He pointed out that NIS has adopted a three-year business plan, according to which, the company will invest a total of one billion euros by 2020, while additional investments by NIS’ partners are also expected.

NIS’ largest investment projects in Serbia are combined heat and power plant (CHPP) in Pancevo and Plandiste wind farm. According to Deputy CEO Anton Fyodorov, the construction of 140 MW CHPP Pancevo should start in 2017, it would cost some 146 million euros and will be completed in two years. It will produce electricity for the needs of NIS’ refinery in Pancevo, while surplus electricity will be sold in Serbian electricity market. The thermal energy supplied by the plant will be used for the heating of the city of Pancevo.

NIS already obtained all necessary permits for the construction of wind farm Plandiste, which will have 34 wind turbines with the total power output of 102 MW. The value of the project will amount to around 160 million euros and it would be realized by the joint company NIS Energowind, which is 50 % owned by NIS, while the remaining 50 % is owned by private investors.